The government is considering introducing a system so that the expatriates can remit their money free of cost, Finance Minister AMA Muhith said on Thursday.
"We are actively considering the proposal of sending money by the expatriates without any fees. But who send money have a cost. And we are thinking to introduce a scheme how to meet the cost," he said.
Expressing the hope to introduce the scheme shortly, he said the government is working on it.
The minister was speaking at an award giving ceremony titled "Bangladesh Bank (BB) Remittance Award-2017" held at Bangladesh Bank Training Academy in the city.
Finance Minister AMA Muhith and others seen with the recipients of Bangladesh Bank Remittance Award 2017 at the Bangladesh Bank Training Academy auditorium in the city on Thursday — FE photo
The Finance Minister handed over crests and certificates to a total of 37 non-resident Bangladeshis (NRB), five banks and three exchange houses in five categories for their outstanding contributions to enhancing remittance flow through formal channel.
Bangladesh Bank Financial Inclusion Division organised the remittance award ceremony.
The award recipients are: Mahtabur Rahman, Mahbub Alam, Fakhrul Islam, Oliur Rahman, Omar Faruq, Jakir Hossain, Abdul Karim, Wahedul Islam, Abu Taher Mohammad Amanullah, Ripon Datta, Abdul Hakim, Abdun Nur Kawser, Mizanur Rashid, Khalilur Rahman, Md Shahjahan, Md Mojahedul Islam, Jasim Uddin, Sahin Hossain, Abul Kasem and Abdul Karim in remitter category.
Mahtabur Rahman, Mahbub Alam, Ehsanur Azim, Fakhrul Islam, Omar Faruq, Abu Taher Mohammad Aminullah, Abdul Karim, Asif Ahmed and ZU Sayeed received award as top investors in bonds.
The banks and exchange houses that received awards are: Islami Bank Bangladesh Ltd, Agrani Bank, Sonali Bank, Janata Bank, Dutch Bangla Bank Ltd, National Exchange Company SRL, Placid NK Corporation and NEC Money Transfer.
BB governor Fazle Kabir said the central bank has taken various steps to bring remittance and increase its flow through formal channel.
He called on commercial banks to encourage remittance senders to offer competitive rate and reduce the transfer fee and exchange rate like other countries.
Islami Bank managing director Mahbub Ul Alam, Sonali Bank CEO Obaidullah Al Masud, Janata Bank CEO Abdus Salam, Agrani Bank CEO Mohammed Shams-Ul Islam and Dutch-Bangla Bank managing director Abul Kashem Md Shirin, among others, were present at the programme.
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